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Mortgage math, modeled.

Run principal + interest + tax + insurance + HOA + MUD for any Houston purchase. Build a defensible monthly-payment view before you tour.

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Buyer Payment Tool

Mortgage Payment Calculator

Estimate principal, interest, property taxes, homeowners insurance, mortgage insurance, and HOA dues with defaults tuned for a Greater Houston buyer conversation.

Purchase price ? $400,000

Down payment ? $20,000

Interest rate ? Default 6%

Loan term ?

Tax rate ? % annual

Home insurance ? annual

HOA dues ? monthly

Closing costs ? estimate

Property type ?

Primary residence ? Estimate school-tax homestead savings and effective tax rate

Estimated monthly payment

$3,470/mo

Conventional estimate with 5% down and estimated PMI.

Principal & interest ?$2,278

Property taxes ?$833

Home insurance ?$200

PMI / MIP ?$158

HOA dues ?$0

Homestead savings ?$0

Est. effective tax rate ?2.50%

Loan amount $380,000

Cash to close $32,000

Interest paid $440,185

Down payment $20,000

Conventional loans commonly include PMI when the down payment is under 20%. This estimate uses a simple 0.50% annual PMI assumption.

Get a local lender estimate

For planning only. Taxes, insurance, HOA dues, mortgage insurance, interest rates, loan limits, and lender fees vary by property, borrower, county, and program. Eddie Weir is a licensed Texas REALTOR® with REMAX Signature, not a lender. This calculator is not a loan estimate or commitment to lend.

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Eddie Weir

REALTOR®, ABR, LUXE

TREC License #560899

832-343-8383

eddie@eddieweir.com

eddieweir.com

Mortgage Payment Estimate

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Loan Details

Loan type: —
Property type: —
Purchase price: —
Down payment: —
Interest rate: —
Loan term: —
Loan amount: —
Upfront MIP financed: —

Estimated Monthly Payment

—/mo

—

Principal & interest: —
Property taxes: —
Home insurance: —
PMI: —
HOA dues: —
Homestead savings: —
Total monthly: —

Assessment & Tax

Tax rate: —
Assessment ratio: —
Assessed value: —
Annual property taxes: —
Effective tax rate: —

Cash to Close

Down payment: —
Closing costs: —
Upfront MIP (cash): —
Total cash to close: —

Lifetime Costs

Total interest paid over 30 years: —

What These Terms Mean

Principal & interest: Monthly repayment of borrowed principal plus interest. Does not include taxes, insurance, HOA, or mortgage insurance.

PMI / MIP: Mortgage insurance applies with lower down payments. Conventional PMI estimated at 0.50% annual when down is under 20%; FHA MIP follows HUD’s current schedule based on term, loan size, and LTV.

Homestead exemption: Texas school-district exemption of $140,000 reduces the school-tax portion of property taxes for qualifying primary residences. This estimate models school taxes as ~40% of the total tax bill.

Tax assessment ratio: Harris County typically appraises resale homes near 80% of the recent sale price due to appraisal-cycle lag. New construction is usually appraised at the contract price (100%).

Cash to close: The cash you bring to the closing table: down payment + closing costs + (if applicable) upfront FHA MIP if not financed into the loan.

Closing costs: Planning estimate for lender fees, title/escrow items, prepaid taxes and insurance, appraisal, and other buyer costs. Actual closing costs come from the lender and title company.

FHA upfront MIP: FHA’s 1.75% upfront mortgage insurance premium can be financed into the loan (most common) or paid at closing as cash.

Loan term: How long the mortgage is scheduled to be repaid. A shorter term usually means a higher monthly payment and less total interest paid.

Next Steps

For a personal lender introduction and full pre-approval, get in touch: Eddie Weir · 832-343-8383 · eddie@eddieweir.com · eddieweir.com/contact